Top Three Performers of the Week in Crypto Space

There are
varying opinions of multinational investment banks and financial
services about Bitcoin and the future of cryptocurrency circling the
web. A clear picture of how the market is going to behave remains
unknown. These differing outlooks can cause confusion and chaos among
new investors who are planning to invest in the crypto market.

By this time
it is more than evident that cryptocurrencies are here to stay. Hence
it would be better if all the traders focus on fundamental
development in the crypto space.

Investors
confidence in cryptocurrency can be visibly seen from how multiple
blockchain projects are securing capital. And at the other end, even
the crypto companies are introducing new strategies and plans to
attract institutional investors.

Furthermore,
integration of cryptocurrencies into the mainstream economy may
happen much sooner than predicted with strong backing from investors.
Trading giants are also predicting the bear market phase to end soon
and a new bull market phase to start. Though there won’t be a
vertical rise in the market value, you can expect a gradual increase
in the price. Few of the top performers in the crypto market are
already showing signs of bottoming out.

Here is a
list of top 3 performers for the week with a small prediction of how
their prices might change.

TRX/USD

Tron has
been the best performer amongst the large coin players by their
market cap value over the past week. In the weekly report provided
by the Tron, it is said that it has over “150 DApps and more than
300 smart contracts.”

At the
recent niTron Summit, Tron founder and CEO Justin Sun said that he is
expecting the number of decentralized applications (DApps) on the
network to increase to 2,000 by the year-end.

The TRX/USD
pair has shown good power as the bulls are trying to sustain the
overhead resistance at $0.02815521. Since the value of cryptocurrency
has been stagnant in this range since mid-August, it is believed that
a breakout is soon to happen with a new uptrend.

Their
immediate target is to get to $0.4, but it is believed to cross that
and might extend to $0.05218328. Hence to play it safe it is better
for a long position on a close above 0.02815521, with a stop loss
just below $0.021

LTC/USD

Litecoin has
emerged with a new tagline “Take control of your money and pay with
Litecoin” and a new logo. The logo was revealed during a UFC event
sponsored by the company and received an excellent response. Only the
time has to tell whether this new vision will help change the
fortunes of this struggling cryptocurrency has to be seen.

The good
news for the long term investors is that the cryptocurrency is
expected to start a new uptrend if the price sustains above $40.78. A
minor resistance can occur at $47.246, but above this, the move can
extend to $65.561.

BNB/USD

Binance Coin
has been making noticeable ripples in the market for the past few
weeks. BNB has been now ranked as the 12th largest coin by the value
of market capitalization. It has also become the latest exchange to
offer crypto-to-crypto over-the-counter trading. Adding to this the
company has also rebranded its Trust Wallet as a multi cryptocurrency
wallet.

From the
market price perspective, a strong resistance can be expected in the
range of $7.17–$7.7. Any breakout and close above this zone can
signal a trend reversal.

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